Steps to an Accounting Audit


1 - Preparation of the accounting audit (the auditor collects as much information as possible from the company via internal sources or by conducting external research); for best accountancy training Best school of accountancy In Lahore.
2 - Submission of a notice of audit of accounts (the auditor must indicate in advance the company that the years will be checked.) A sufficient time must be granted to him to be able to make attendance Board, usually 15 days);
3 - Carrying out accounting verification operations ( substantive and formal control of accounting documents, physical checks, visit to the company, review of accounting processes, analysis of certain legal documents);
4 - Conducting a summary meeting in the presence of the auditor, the company representative and any adviser (this meeting is not an obligation but is usually carried out in the field);
5 - Preparation of a report by the auditor and transmission to his hierarchy (this document notably indicates the proposed corrections notified to the company, initial and / or abandoned);
6 - Conclusion of control and sending of a letter (sending of a notice of absence of rectification where no rectification is envisaged or, failing that, sending a proposal of rectification reasoned indicating that the company can Having the board of his or her choice attend to discuss or respond to the proposal);
7 - Company's reply within 30 days (in case of correction, the company must send the acceptance or observations to the administration - extension of 30 days subject to conditions);
8 - New reasoned reply from the administration (if it rejects the comments of the undertaking, if it accepts them, the notified corrections are dropped);
9 - Possible referral by the company of the departmental or national commission (the objective being to ask his opinion);
10 - Recovery of additional charges (after issuance of the opinion by the Commission, if applicable);
11 - Launch of an appeal procedure before the Administrative Tribunal (if the dispute between the administration and the company persists).

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